Support for Innovative Products Making Inroads into Overseas Markets in Public-Private CollaborationPPS speeds up support for Innovative Products going global, working with *five power generation companies, the Korea International Cooperation Agency (KOICA) and the Innovation Procurement Support Center.  *Korea Southern Power, Korea Midland Power, Korea Western Power, Korea East-West Power and Korea Energy  In this regard, PPS held a explanation session to introduce its pilot purchase project to secure international validation for Innovative Products and share its accomplishments, project details and participation methods on August 29, at the Government Complex in Daejeon.   In the second half of this year, information including of demanded products and promising user institutions aboard possessed by five power generators and KOICA will be shared with domestic businesses. And fairer opportunities for participation will be granted to businesses through public recruitment, ensuring lower entry barriers to overseas markets.   Lee Sang-yoon, Vice Administrator of the Public Procurement Service, stated, "We hope that this event will serve as an opportunity for innovative companies to grow into export leaders." He added, "We will continue to pursue tailored support policies for expanding exports, which are a top priority in the second half of our economic policy."

Facilitating New Economic Growth from Overseas Procurement Markets   During a visit to RexGen Co., a leading exporter of innovative technologies, PPS AD Kim explored measures to support domestic suppliers to join overseas procurement markets after attentively hearing their challenges and recommendationsThe Public Procurement Service (PPS) is committed to supporting domestic suppliers in their efforts to enter foreign procurement markets and expand exports, which is a driving force behind the Korean economy.   On July 20th, PPS Administrator Kim Yoon-sang visited RexGen, located in the city of An-yang, Gyeonggi-do, to listen to their difficulties and recommendations regarding export activities. Administrator Kim also took a close look at the production process of the CCTVs scheduled for export.   RexGen is a manufacturer of an AI-based smart traffic control system known for its remarkable technologies and quality. As a result, some of its products have been designated as an Innovative Product as well as an Excellent Government Procurement Product.   The tech firm is actively venturing into overseas markets, having secured an export contract worth 16 million USD for their license plate recognition CCTV system with the city of Dushanbe, Tajikistan.   Oh Yeong-jun, CEO of RexGen, recommended that PPS enhance measures to assist technologically proven companies in entering foreign procurement markets, including through overseas demonstration opportunities under the Innovative Product Pilot Purchase system.   "The Korean Government is fully committed to increasing exports, as they play a crucial role in overcoming economic challenges," said Administrator Kim, adding, "PPS will attentively hearing the voices of suppliers and explore supportive measures to invigorate their efforts to expand into overseas procurement markets."